Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Note 7

Information on the statement of cash flows

7.1

CASH FLOWS FROM OPERATING ACTIVITIES

30/09/2019

30/09/2018

(in thousands of euros)

Net income (Group share)

62,244

57,199

Minority interests in the income COMPREHENSIVE NET INCOME

9,156

5,961

71,400 129,981

63,160 122,093

Amortisation, depreciation and provision increases and reversals

Gains or losses on disposal

-430

21,981 -4,471

Share of net income of associate companies Dividends received from associate companies

-8,863

3,255

2,497

Other

984

-25,210 180,050

OPERATING CASH FLOW AFTER COST OF NET FINANCIAL DEBT AND TAXES

196,327

Net cost of debt

8,270

8,238

Tax expense (including deferred taxes)

32,246

29,746

OPERATING CASH FLOW BEFORE COST OF NET FINANCIAL DEBT AND TAXES

236,843 -8,327 3,886 -32,875 199,526

218,034

Change in accounts receivable and payable Other elements of cash timing di ff erences

-3,025

3,770

Tax paid

-23,750 195,028

CASH FLOWS FROM OPERATING ACTIVITIES

Details of the results of companies consolidated using the equity method are given in Note 5.6, the net cost of debt is discussed in Note 5.4.

7.2 ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

30/09/2019

Notes

30/09/2018

(in thousands of euros)

Acquisition of intangible assets

6.2 6.3

-7,889

-5,237

Acquisitions of property, plant and equipment (net of subsidies)

-205,135 -213,024

-184,905 -190,141

ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

Changes in debt on non-current assets

-47

3,585

ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS IN THE STATEMENT OF CASH FLOWS

-213,071

-186,556

Sale price of intangible assets

0

35

Sale price of property, plant and equipment Receivables associated with asset disposals

4,902 -1,203 3,699

1,566

-1,243

DISPOSAL OF INTANGIBLE ASSETS IN THE STATEMENT OF CASH FLOWS

358

The breakdown of capital expenditure over the fi scal year is discussed in Notes 6.2 and 6.3.

7.3

CHANGE IN BORROWINGS

30/09/2019

30/09/2018

(in thousands of euros)

BORROWINGS IN THE CONSOLIDATED BALANCE SHEET FOR THE PREVIOUS FISCAL YEAR

433,942 162,546

427,316 -73,619

P borrowings from credit institutions

P lease fi nance

-516

-503

P other borrowings and similar debt

30

292

P other

6

1

CHANGE IN BORROWINGS IN THE STATEMENT OF CASH FLOWS

162,066 -52,655

-73,829

Change in half-year bank credit balances

88,017 -7,561 6,627

Miscellaneous

18,362

TOTAL CHANGE (ALL BORROWINGS) Miscellaneous ( fi nancial instruments)

127,773

1,095

0

BORROWINGS IN THE CONSOLIDATED BALANCE SHEET FOR THE FISCAL YEAR

562,810

433,942

160

Compagnie des Alpes I 2019 Universal registration document